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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2017
Fair Value Measurements [Abstract]  
Fair Value Hierarchy
The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value (in thousands):
 
 
 
Fair Value at June 30, 2017
 
Fair Value at December 31, 2016
 
Assets
 
Level 1
 
Level 2
 
Level 3
 
Level 1
 
Level 2
 
Level 3
 
Money market funds(1)
 
$
41,527
 
$
—
 
$
—
 
$
95,896
 
$
—
 
$
—
 
Government-backed securities(1)
 
 
—
 
 
17,000
 
 
—
 
 
—
 
 
19,000
 
 
—
 
Asset-backed securities
 
 
—
 
 
33,860
 
 
—
 
 
—
 
 
23,632
 
 
—
 
Corporate debt securities(2)
 
 
—
 
 
77,655
 
 
—
 
 
—
 
 
79,470
 
 
—
 
Total assets
 
$
41,527
 
$
128,515
 
$
—
 
$
95,896
 
$
122,102
 
$
—
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Convertible notes payable
 
$
—
 
$
139,880
 
$
—
 
$
—
 
$
141,989
 
$
—
 
 
(1)
Classified as cash and cash equivalents as of June 30, 2017 and December 31, 2016, respectively (see Note 3).
 
(2)
Includes $11,976 classified as cash and cash equivalents as of December 31, 2016 (see Note 3).